European derivatives exchange Eurex is to waive trading fees for its Eurex KOSPI futures product during September.
The offer is being made on the third anniversary of Eurex’s link-up with the Korea Exchange (KRX) to offer its members the ability to trade KOSPI 200 during European and North American trading hours.
In addition to the fee waiver, Eurex members in Korea will also qualify for its special incentive program for Asia-based participants.
The program gives volume-related discounts and lower connection costs for directly connected members.
Eurex’s KOSPI product is traded with a narrow spread of one tick due to liquidity provision by six market makers and has seen the number of active traders more than double in the last twelve months.
Michael Peters, member of the Eurex executive board, said: “The average daily volume of traded contracts is 83,000 this year, which is equivalent to almost 4% of the daily volume of KOSPI 200 options traded on KRX. Our peak this year was in July with the record figure of 236,217 contracts on a single day.